Tantalex Lithium Resources Corporation C.TTX

Alternate Symbol(s): TTLXF

Tantalex Lithium Resources Corporation is a Canada-based exploration and development stage mining company. The Company is engaged in the acquisition, exploration, development and distribution of lithium, tin, tantalum and other high-tech mineral properties in Africa. It is focused on operating its TiTan tin and tantalum concentrate plant and developing its lithium assets in the prolific Manono area in the Democratic Republic of Congo; The Manono Lithium Tailings Project and the Pegmatite Corridor Exploration Program. The Manono Tailings project covers 105 million mt over 11 dumps, containing Lithium, Tin and Tantalum. The Pegmatite Corridor Exploration project is located southwest of Dathcom Mining with 269 million tons of measured and indicated resources, for which the pegmatite extends throughout its licenses 12447 and 12448.

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Tantalex Lithium Resources Corporation > Share price / MAJORITY STAKE IN THE MANONO LITHIUM TAILINGS

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Post by muihtiltlabocon Jun 22, 2022 6:14am

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Post# 34773106

Share price / MAJORITY STAKE IN THE MANONO LITHIUM TAILINGS

The announcement says:

TTX ... has effectively exercised its option to acquire an additional 27% stake in the MINOCOM SAS joint venture from MINOR SARL for a total consideration of USD $500,000 and the issuance of 35,000,000 common shares of TTX pursuant to an amending agreement executed on May 17, 2022. The original contract was dated July 15, 2021 in which the original consideration was USD $10,000,000 or the issuance of 20,000,000 common shares of TTX, at the sole option of MINOR.

Calculation
---------------
Original: USD $10,000,000
Now: USD $500,000 and 35,000,000 shares => 35,000,000 shares worth USD $9,500,000 => USD $0.27 / share

=> CAN $ 0.36 / share

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